Ruling and Opposition Parties Complete Member Formation for 'Minsaeng Economic Stability Special Committee'

Chairman Ryu Seong-geol, People Power Party
Democratic Party Whip Kim Seong-hwan

On the 20th, the motion to form the Special Committee on Stabilizing the Livelihood Economy was passed at the plenary session held at the National Assembly. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Kim Young-won] On the 20th, after the proposal to form the 'Special Committee on Stabilizing the Livelihood Economy' passed the plenary session of the National Assembly, the ruling and opposition parties completed the composition of the special committee members.

The Livelihood Economy Special Committee will address various livelihood economic issues such as further expansion of the fuel tax reduction, linkage system for delivery prices, improvement of real estate-related systems, expansion of non-taxable portions of meal allowances for office workers, the safe freight system, and public transportation fare refunds.

The special committee consists of 13 members: 6 from the Democratic Party of Korea, 6 from the People Power Party, and 1 from a non-negotiating group. The chairperson will be Ryu Seong-gil, a two-term member of the People Power Party and chair of the Price and Livelihood Stability Special Committee. Ryu is also appointed as the party's ranking member of the Strategy and Finance Committee.

The People Power Party's ranking member is Kim Jeong-jae, a two-term lawmaker, and the members include first-term lawmakers Kang Min-guk, Yoon Chang-hyun, Jang Dong-hyuk, and Cho Eun-hee.

The Democratic Party's ranking member is Kim Seong-hwan, a two-term lawmaker who is also the party's Policy Committee Chair and head of the Price Stabilization Task Force. Members include Lee Hak-young, a three-term lawmaker; Choi In-ho, a two-term lawmaker; and first-term lawmakers Kim Kyung-man, Oh Ki-hyung, and Lee Soo-jin (proportional representation).

The member from the non-negotiating group has not yet been decided.

The special committee's activity period is until October 31. The committee is granted the authority to review bills, but agenda items will be handled by consensus between the ruling and opposition parties.

Earlier, when negotiations over the distribution of the Science, Technology, Broadcasting and Communications Committee and the Public Administration and Security Committee reached a deadlock, the ruling and opposition parties agreed on the 18th to hold a plenary session to launch the Livelihood Economy Stabilization Special Committee and to conduct party representative speeches and government questioning sessions.

This content was produced with the assistance of AI translation services.